Help, is this a good offer?

Just got this in my inbox as i've got an ISA with them...all too technical for me...sorry... but do you think it's worth it in the long run.. 5 yrss is a long time.. thanks in advance


Benefit from any growth in the FTSE 100 (the index) without investing directly in the stock market

Sounds too good to be true, well it’s not! Our new Guaranteed Capital Return Bond account tracks the performance of the FTSE 100 and will pay a return equivalent to either 70% of any rise in the FTSE 100 or a guaranteed minimum return of 20% gross, whichever is higher.

In brief:

• You are guaranteed a minimum return of at least 20% over the five year term – even if there is no growth in the FTSE 100.
• Five year building society account tracking the performance of the FTSE 100.
• Funds invested before tracking date will receive early bird interest of 4.75% gross p.a./AER.
• Your capital is 100% guaranteed.
• Invest from as little as £1,000.
• No withdrawals are permitted until maturity.

An alternative investment opportunity: The Balanced Income Options Bond

You can have the flexibility of an account that offers both unlimited growth potential as well as generating a regular income. Your initial investment is equally split between a one year fixed rate element and a 5 year guaranteed equity bond element.

In brief:

• Fixed Rate Element allows you to earn up to 8% gross p.a./AER after one year
• Guaranteed Equity Bond element allows you to earn 85% of any growth in the FTSE100 over a 5 year term
• Monthly income option available
• Tracking will begin on 14 July 2005
• Any funds invested before tracking date will receive early bird interest of 4.75% gross p.a./AER. If, however, there is no rise in the FTSE 100 over the 5 year term then only ‘early bird’ interest due will be paid.
• Your capital is guaranteed.
• Invest from as little as £2,000.
• No withdrawals are permitted until maturity.